Q2 2024 Earnings Estimate for Parkland Co. Issued By Atb Cap Markets (TSE:PKI)

Parkland Co. (TSE:PKI) – Research analysts at Atb Cap Markets lifted their Q2 2024 earnings estimates for shares of Parkland in a research note issued to investors on Tuesday, July 23rd. Atb Cap Markets analyst N. Heywood now expects that the company will post earnings per share of $0.83 for the quarter, up from their prior forecast of $0.79. The consensus estimate for Parkland’s current full-year earnings is $3.16 per share. Atb Cap Markets also issued estimates for Parkland’s FY2024 earnings at $3.09 EPS.

Parkland (TSE:PKI) last announced its quarterly earnings results on Wednesday, May 1st. The company reported C$0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.19. The firm had revenue of C$6.94 billion during the quarter, compared to analyst estimates of C$8.13 billion. Parkland had a return on equity of 12.52% and a net margin of 1.25%.

Several other research firms also recently weighed in on PKI. National Bankshares decreased their price objective on Parkland from C$52.00 to C$49.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. Desjardins reduced their price target on shares of Parkland from C$51.00 to C$48.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. JPMorgan Chase & Co. cut their price objective on shares of Parkland from C$56.00 to C$54.00 in a report on Tuesday, April 16th. CIBC lowered their target price on Parkland from C$55.00 to C$54.00 in a report on Thursday, July 18th. Finally, Royal Bank of Canada cut their price target on Parkland from C$50.00 to C$49.00 in a report on Wednesday. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$50.69.

Parkland Trading Up 2.0 %

Shares of TSE PKI opened at C$38.57 on Friday. Parkland has a twelve month low of C$35.00 and a twelve month high of C$47.99. The company has a quick ratio of 0.73, a current ratio of 1.37 and a debt-to-equity ratio of 210.21. The business has a fifty day simple moving average of C$38.36 and a two-hundred day simple moving average of C$41.83. The firm has a market cap of C$6.74 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 11.79 and a beta of 1.37.

Insider Activity at Parkland

In other Parkland news, Senior Officer Marcel Teunissen purchased 1,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was acquired at an average price of C$40.35 per share, with a total value of C$40,350.00. 20.51% of the stock is currently owned by corporate insiders.

Parkland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 21st were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.63%. Parkland’s payout ratio is 64.52%.

Parkland Company Profile

Parkland Corporation operates food and convenience stores in Canada, the United States, and internationally. The company's Canada segment owns, supplies, and supports a coast-to-coast network of retail gas stations, electronic vehicle charging stations, frozen food retail locations, convenience stores, cardlock sites, bulk fuel, propane, heating oil, lubricants, and other related services to commercial, industrial, and residential customers; transports and distributes fuel through ships, rail, and highway carriers; and stores fuel in terminals and other owned and leased facilities, as well as engages in the low-carbon activities.